General Affairs
Demonetisation, surgical strikes in PoK to be BJP's major poll issues: Amit Shah to partymen
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The BJP's national office-bearers meeting began on Friday at NDMC convention centre here. The party's office bearers and state presidents are taking part in the crucial meeting ahead of the Assembly elections in five states.
BJP president Amit Shah inaugurated the meeting which would finalise the agenda of the national executive which is expected to give final shape to party's poll strategy in Assembly elections in the five states.
BJP'S TWO-DAY NATIONAL EXECUTIVE MEET BEGINS
Addressing the office-bearers ahead of the two-day National Executive meet, BJP president Amit Shah said the party is seeking to make demonetisation, which it has termed as a "war against black money and corruption", a major poll issue, besides encashing on the surgical strikes in Pakistan-occupied-Kashmir and the "pro-poor" schemes.
Shah finalised the party's resolutions to be passed in the two-day national executive meeting that will be inaugurated with his address later in the day.
AMIT SHAH TO MOTIVATE PARTY LEADERS BEFORE POLLS
The BJP chief will seek to motivate the party leaders to steer the party to victory in five states that go to polls in February-March, especially in high-stakes Uttar Pradesh.
The party leaders will discuss and review the ground situation in the poll-bound states, BJP leaders said.
The party will use the occasion to burnish its pro-poor and pro-weaker sections credentials by citing several government schemes, including the recent sops announced by Prime Minister Narendra Modi.
BUDGET BATTLE: BJP TO TARGET OPPOSITION
The top BJP brass is also expected to target the Opposition over its attack on the government for advancing the Budget Session of Parliament and may project it as yet another attempt by the Congress and the other rival parties to derail Modi's "pro-poor" agenda.
With the mood in the saffron camp optimistic following the prime minister's huge rally in Lucknow recently and what it believes to be a positive public response to the currency ban, the party is expected to project the Opposition's criticism of the exercise as an attempt to protect the corrupt.
Two resolutions, one political and the other economic, are likely to be passed at the meet.
The army's surgical strikes last year to target terror launchpads across the border could also find a mention at the meeting.
ELECTION COMMISSION ANNOUNCES ASSEMBLY POLL DATES
The Election Commission has announced the dates for Assembly polls in five states -- Uttar Pradesh, Punjab, Manipur, Goa and Uttarakhand.
BJP's central election committee is likely to announce the names of party candidates after the auspicious 'Makar Sankranti' which falls on January 14.
The BJP's national office-bearers meeting began on Friday at NDMC convention centre here. The party's office bearers and state presidents are taking part in the crucial meeting ahead of the Assembly elections in five states.
BJP president Amit Shah inaugurated the meeting which would finalise the agenda of the national executive which is expected to give final shape to party's poll strategy in Assembly elections in the five states.
BJP'S TWO-DAY NATIONAL EXECUTIVE MEET BEGINS
Addressing the office-bearers ahead of the two-day National Executive meet, BJP president Amit Shah said the party is seeking to make demonetisation, which it has termed as a "war against black money and corruption", a major poll issue, besides encashing on the surgical strikes in Pakistan-occupied-Kashmir and the "pro-poor" schemes.
Shah finalised the party's resolutions to be passed in the two-day national executive meeting that will be inaugurated with his address later in the day.
AMIT SHAH TO MOTIVATE PARTY LEADERS BEFORE POLLS
The BJP chief will seek to motivate the party leaders to steer the party to victory in five states that go to polls in February-March, especially in high-stakes Uttar Pradesh.
The party leaders will discuss and review the ground situation in the poll-bound states, BJP leaders said.
The party will use the occasion to burnish its pro-poor and pro-weaker sections credentials by citing several government schemes, including the recent sops announced by Prime Minister Narendra Modi.
BUDGET BATTLE: BJP TO TARGET OPPOSITION
The top BJP brass is also expected to target the Opposition over its attack on the government for advancing the Budget Session of Parliament and may project it as yet another attempt by the Congress and the other rival parties to derail Modi's "pro-poor" agenda.
With the mood in the saffron camp optimistic following the prime minister's huge rally in Lucknow recently and what it believes to be a positive public response to the currency ban, the party is expected to project the Opposition's criticism of the exercise as an attempt to protect the corrupt.
Two resolutions, one political and the other economic, are likely to be passed at the meet.
The army's surgical strikes last year to target terror launchpads across the border could also find a mention at the meeting.
ELECTION COMMISSION ANNOUNCES ASSEMBLY POLL DATES
The Election Commission has announced the dates for Assembly polls in five states -- Uttar Pradesh, Punjab, Manipur, Goa and Uttarakhand.
BJP's central election committee is likely to announce the names of party candidates after the auspicious 'Makar Sankranti' which falls on January 14.
With Akhilesh Yadav as the star, Congress-Samajwadi Party alliance in the offing
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Uttar Pradesh Chief Minister Akhilesh Yadav-led Samajwadi Party and the Congress are moving towards forging an alliance and may announce it within the next fortnight.
Both parties are keen on forging an alliance, sources said.
While Akhilesh Yadav and his camp are busy sorting out the Samajwadi Party 'Dangal', the Congress leaders are in a huddle reworking on the strategy for the post tie-up situation.
Here are the key points emerging from Congress' boardroom brainstorming session:
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Congress is demanding between 96 to 120 seats.
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Congress chief ministerial candidate in Uttar Pradesh Sheila Dikshit will withdraw her name. She has already expressed an intention to do so in "public interest".
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Congress' UP poll campaign "27 Saal, UP Behal" will be tweaked because the slogan goes against the Akhilesh Yadav government.
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Both parties will campaign around five major points - Akhilesh's image, development, job creation, demonetisation impact and farmer welfare.
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Priyanka Gandhi Vadra may not campaign in other parts of UP. Sources said she might restrict herself to family bastion of Amethi and Rae Bareli.
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Congress' UP campaign so far was Brahmin-centric. Now they are remoulding their approach and will target Dalit voters because with Muslim-backed SP on their side, upper castes might not find this tie up attractive.
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Communication strategies are also being worked upon. Party is planning to rope in leaders especially from Dalit, OBC and Muslim communities for their ongoing campaigns.
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Akhilesh Yadav and Congress vice president Rahul Gandhi could be seen sharing stage in a few rallies.
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As most of the Samajwadi party MPs are backing Akhilesh Yadav, Congress quarters said this would strengthen their position in Parliament too.
Uttar Pradesh Chief Minister Akhilesh Yadav-led Samajwadi Party and the Congress are moving towards forging an alliance and may announce it within the next fortnight.
Both parties are keen on forging an alliance, sources said.
While Akhilesh Yadav and his camp are busy sorting out the Samajwadi Party 'Dangal', the Congress leaders are in a huddle reworking on the strategy for the post tie-up situation.
Here are the key points emerging from Congress' boardroom brainstorming session:
- Congress is demanding between 96 to 120 seats.
- Congress chief ministerial candidate in Uttar Pradesh Sheila Dikshit will withdraw her name. She has already expressed an intention to do so in "public interest".
- Congress' UP poll campaign "27 Saal, UP Behal" will be tweaked because the slogan goes against the Akhilesh Yadav government.
- Both parties will campaign around five major points - Akhilesh's image, development, job creation, demonetisation impact and farmer welfare.
- Priyanka Gandhi Vadra may not campaign in other parts of UP. Sources said she might restrict herself to family bastion of Amethi and Rae Bareli.
- Congress' UP campaign so far was Brahmin-centric. Now they are remoulding their approach and will target Dalit voters because with Muslim-backed SP on their side, upper castes might not find this tie up attractive.
- Communication strategies are also being worked upon. Party is planning to rope in leaders especially from Dalit, OBC and Muslim communities for their ongoing campaigns.
- Akhilesh Yadav and Congress vice president Rahul Gandhi could be seen sharing stage in a few rallies.
- As most of the Samajwadi party MPs are backing Akhilesh Yadav, Congress quarters said this would strengthen their position in Parliament too.
Maharashtra sugar scam: File an FIR first, Anna Hazare told by Bombay High Court
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Social activist Anna Hazare was today instructed by Bombay High Court to first register case in the alleged sugar industry scam. The division headed by Justice Abhay Oka was hearing a Public Interest Litigation (PIL) filed by the anti-crusader. The next hearing for the case is on February 13 before which Hazare will have to register the case.
Justice Oka said, "Without complaint how can court pass the order for CBI probe in this matter?" Hazare had filed a PIL seeking direction from Bombay High Court to order investigation into the illegalities committed while selling and privatising 47 cooperative sugar factories either by the Maharashtra government or the Maharashtra State Cooperative Banks (MSCB).
WHAT THE PETITION SAID
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Hazare had claimed in his petition that the scam involving the sugar factories had taken back the state by 50 years as it had caused a loss of Rs 10,000 crores to the state exchequer.
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There were four committees set up by state government to look into why these industries were going sick had recommended greater accountability and transparency but it was never implemented.
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It has copies of Comptroller and Auditor General's reports of 2007 along with performance reports of sugar factories in Maharashtra apart from audit reports of MSCB by charted accountants.
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All the strings were pulled by the political heavyweight Sharad Pawar who was then the Agriculture minister at the Centre.
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It also adds that most of the sugar factories have been sold to the politicians who are associates of Sharad Pawar.
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The petition claims to outline all the circumstances connecting these persons and their aides and associates to the illegal sale of the 47 cooperative sugar factories and asks for transparent and fair investigation of the matter.
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There are 24 respondents including Sharad Pawar, his nephew Ajit Pawar, Ministry of Agriculture, Maharashtra government among others.
Social activist Anna Hazare was today instructed by Bombay High Court to first register case in the alleged sugar industry scam. The division headed by Justice Abhay Oka was hearing a Public Interest Litigation (PIL) filed by the anti-crusader. The next hearing for the case is on February 13 before which Hazare will have to register the case.
Justice Oka said, "Without complaint how can court pass the order for CBI probe in this matter?" Hazare had filed a PIL seeking direction from Bombay High Court to order investigation into the illegalities committed while selling and privatising 47 cooperative sugar factories either by the Maharashtra government or the Maharashtra State Cooperative Banks (MSCB).
WHAT THE PETITION SAID
- Hazare had claimed in his petition that the scam involving the sugar factories had taken back the state by 50 years as it had caused a loss of Rs 10,000 crores to the state exchequer.
- There were four committees set up by state government to look into why these industries were going sick had recommended greater accountability and transparency but it was never implemented.
- It has copies of Comptroller and Auditor General's reports of 2007 along with performance reports of sugar factories in Maharashtra apart from audit reports of MSCB by charted accountants.
- All the strings were pulled by the political heavyweight Sharad Pawar who was then the Agriculture minister at the Centre.
- It also adds that most of the sugar factories have been sold to the politicians who are associates of Sharad Pawar.
- The petition claims to outline all the circumstances connecting these persons and their aides and associates to the illegal sale of the 47 cooperative sugar factories and asks for transparent and fair investigation of the matter.
- There are 24 respondents including Sharad Pawar, his nephew Ajit Pawar, Ministry of Agriculture, Maharashtra government among others.
Modi must go, let Advani, Jaitley or Rajnath head government, says Mamata Banerjee
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A belligerent Mamata Banerjee continued her attack on Prime Minister Narendra Modi today, demanding that he must abandon his post and be replaced by another senior BJP leader as the head of the government.
"In the current situation, a national government should be formed with another BJP person at the helm. He (Modi) has to go," the West Bengal Chief Minister said in Kolkata.
Mamata even had the names who could replace Modi. "To save the country, let a national government be formed: Advaniji, Rajnathji or Jaitleyji can head it," she said.
Mamata said she will urge President Pranab Mukherjee to help in the matter. "Only he can rescue the country. We feel he has a great role to play," the Trinamool Congress chief said.
TMC PROTESTING SINCE BANDYOPADHYAY'S ARREST
Mamata's Trinamool Congress has been on the streets since Tuesday after their Member of Parliament Sudip Bandyopadhyay was arrested on charge of involvement in the Rose Valley chit fund scam and sent to six-day custody.
Another Trinamool MP Tapas Paul is already in CBI's remand in the same case, triggering accusations of "political vendetta" by the party.
On Thursday, Trinamool Congress MPs staged a protest march to the Prime Minister's Office (PMO) but were detained on their way. A day earlier, they had protested at Modi's official residence.
Speaking after the administrative meeting, Banerjee once again trained her guns on Narendra Modi for creating a financial and agrarian crisis in the country.
She said, around 82 lakhs of people are jobless in West Bengal and around 2 crore are in huge economic distress. According to her the crisis in agrarian sector is driving the state to a famine like situation.
The Trinamool Congress has also accused BJP member and Union Minister Babul Supriyo of not only involvement in the scam, but also "tricking" him into the fraud, a charge reiterated by Paul's wife Nandini.
Mamata said that Modi might slit her throat for being vocal, but she will not stop from criticizing the Prime Minister. Her party will continue with the campaign against notebandi and she will visit a BJP ruled state soon to demonstrate against demonetisation.
A belligerent Mamata Banerjee continued her attack on Prime Minister Narendra Modi today, demanding that he must abandon his post and be replaced by another senior BJP leader as the head of the government.
"In the current situation, a national government should be formed with another BJP person at the helm. He (Modi) has to go," the West Bengal Chief Minister said in Kolkata.
Mamata even had the names who could replace Modi. "To save the country, let a national government be formed: Advaniji, Rajnathji or Jaitleyji can head it," she said.
Mamata said she will urge President Pranab Mukherjee to help in the matter. "Only he can rescue the country. We feel he has a great role to play," the Trinamool Congress chief said.
TMC PROTESTING SINCE BANDYOPADHYAY'S ARREST
Mamata's Trinamool Congress has been on the streets since Tuesday after their Member of Parliament Sudip Bandyopadhyay was arrested on charge of involvement in the Rose Valley chit fund scam and sent to six-day custody.
Another Trinamool MP Tapas Paul is already in CBI's remand in the same case, triggering accusations of "political vendetta" by the party.
On Thursday, Trinamool Congress MPs staged a protest march to the Prime Minister's Office (PMO) but were detained on their way. A day earlier, they had protested at Modi's official residence.
Speaking after the administrative meeting, Banerjee once again trained her guns on Narendra Modi for creating a financial and agrarian crisis in the country.
She said, around 82 lakhs of people are jobless in West Bengal and around 2 crore are in huge economic distress. According to her the crisis in agrarian sector is driving the state to a famine like situation.
The Trinamool Congress has also accused BJP member and Union Minister Babul Supriyo of not only involvement in the scam, but also "tricking" him into the fraud, a charge reiterated by Paul's wife Nandini.
Mamata said that Modi might slit her throat for being vocal, but she will not stop from criticizing the Prime Minister. Her party will continue with the campaign against notebandi and she will visit a BJP ruled state soon to demonstrate against demonetisation.
People wait outside RBI office with dejected faces, not knowing what to do with old Rs 500, 1000 notes
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Those who did not deposit their old Rs 500 or 1000 bank notes last year are now facing the brunt.
Several people with dejected faces were seen outside the RBI branch office in Jaipur, having been told that the demonetised notes will not get exchanged.
However, some exceptions will be made for NRIs who were outside the country between November 8 and December 31 can deposit their notes at the five main RBI offices in Mumbai, Kolkata, Nagpur, New Delhi and Chennai. Speaking to India Today, a lady stranded outside the RBI branch in Jaipur said she got late because of her daughter's wedding. Swamped with the preparations, she failed to deposit the banned currency notes worth Rs 7000, and was under the impression that PM Modi had given a deadline till March 31.
The lady, who had come to the city from the outskirts, added that if she could get the notes exchanged, it would help in her daughter's wedding. Another person at the spot said he was unable to go to the bank earlier as he had met with a serious accident. He had Rs 2500 in old currency.
Meanwhile, another man in the crowd said that his 80-year-old mother had been unwilling to part with her savings of around Rs 20,000, thinking that he was trying to take her money. Now, he does not know what to do with that money.
Those who did not deposit their old Rs 500 or 1000 bank notes last year are now facing the brunt.
Several people with dejected faces were seen outside the RBI branch office in Jaipur, having been told that the demonetised notes will not get exchanged.
However, some exceptions will be made for NRIs who were outside the country between November 8 and December 31 can deposit their notes at the five main RBI offices in Mumbai, Kolkata, Nagpur, New Delhi and Chennai. Speaking to India Today, a lady stranded outside the RBI branch in Jaipur said she got late because of her daughter's wedding. Swamped with the preparations, she failed to deposit the banned currency notes worth Rs 7000, and was under the impression that PM Modi had given a deadline till March 31.
The lady, who had come to the city from the outskirts, added that if she could get the notes exchanged, it would help in her daughter's wedding. Another person at the spot said he was unable to go to the bank earlier as he had met with a serious accident. He had Rs 2500 in old currency.
Meanwhile, another man in the crowd said that his 80-year-old mother had been unwilling to part with her savings of around Rs 20,000, thinking that he was trying to take her money. Now, he does not know what to do with that money.
Business Affairs
GDP growth to decline to 7.1%, predicts government
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The government said on Friday that economic growth would slow down to 7.1 per cent in the fiscal year ending in March from 7.6 per cent a year earlier.
Most private economists have pared India's growth forecast to 6.3-6.4 per cent for the 2016-17 fiscal year, citing the impact of the government's scrapping of high-value bank notes last November, which they reckon would linger for one more year.
The predicted percentage would be the lowest in the last three years. In 2015-16, the GDP growth was 7.6 per cent and 7.2 per cent in 2014-15.
Meanwhile, former deputy chairman of the erstwhile Planning Commission Montek Singh Ahluwalia said that the demonetisation drive has disrupted the "underlying strength" of the economy, which is likely to see up to 2 per cent fall in growth at around 5 per cent.
"The country had an underlying strength for growth of over seven per cent, but demonetisation has disrupted that strength and I think GDP will get affected between 1 and 2 per cent. So now it should be 5 to 5.5 per cent for the current year," Ahluwalia said after a close-door meeting with members at the Bharat Chamber of Commerce.
He said the present government did not set any road-map for the long-term benefits out of note recall despite recognising the short-term pain.
The government said on Friday that economic growth would slow down to 7.1 per cent in the fiscal year ending in March from 7.6 per cent a year earlier.
Most private economists have pared India's growth forecast to 6.3-6.4 per cent for the 2016-17 fiscal year, citing the impact of the government's scrapping of high-value bank notes last November, which they reckon would linger for one more year.
The predicted percentage would be the lowest in the last three years. In 2015-16, the GDP growth was 7.6 per cent and 7.2 per cent in 2014-15.
Meanwhile, former deputy chairman of the erstwhile Planning Commission Montek Singh Ahluwalia said that the demonetisation drive has disrupted the "underlying strength" of the economy, which is likely to see up to 2 per cent fall in growth at around 5 per cent.
"The country had an underlying strength for growth of over seven per cent, but demonetisation has disrupted that strength and I think GDP will get affected between 1 and 2 per cent. So now it should be 5 to 5.5 per cent for the current year," Ahluwalia said after a close-door meeting with members at the Bharat Chamber of Commerce.
He said the present government did not set any road-map for the long-term benefits out of note recall despite recognising the short-term pain.
Sensex climbs over 95 pts, Nifty reclaims 8,300-mark; ONGC top gainer
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Extending gains from yesterday, the Indian markets opened on a green note on Friday's trade.
At 9.30 AM, the S&P BSE Sensex was trading 26,973, up 95 points while the broader Nifty touched its crucial 8,300-level, up 25 points.
"We reiterate that the Nifty is likely to move higher towards 8376-8400 in near term. Hence, traders are advised to continue to trade with a positive bias and trail stoploss higher on the existing longs to 8195. The intraday supports for the Nifty index are placed around 8250 and 8227; whereas intraday resistance is seen in the range of 8300 - 8325," according to an Angel Broking report.
The market seemed to be sustaining its gains indicating positive market breadth.
ONGC was the top performer gaining 1.83 per cent followed by GAIL recording 1.43 per cent on the BSE.
However, TCS extended losses for the second day losing over 1 per cent.
Asian Market
The Asian market recored a four-week high on Friday on account of a surge in the US dollar and its borrowing costs.
China's Shanghai Composite was trading flat, down 3 points and the Hang Seng Index gained over 90 points while Japan's Nikkei lost 65 points.
US Market
The US dollar stayed near three-week lows against a basket of currencies
The 10-year US Treasuries yield hit a one-month low of 2.344 per cent, falling 30 basis points from its two-year high of 2.641 per cent.
Extending gains from yesterday, the Indian markets opened on a green note on Friday's trade.
At 9.30 AM, the S&P BSE Sensex was trading 26,973, up 95 points while the broader Nifty touched its crucial 8,300-level, up 25 points.
"We reiterate that the Nifty is likely to move higher towards 8376-8400 in near term. Hence, traders are advised to continue to trade with a positive bias and trail stoploss higher on the existing longs to 8195. The intraday supports for the Nifty index are placed around 8250 and 8227; whereas intraday resistance is seen in the range of 8300 - 8325," according to an Angel Broking report.
The market seemed to be sustaining its gains indicating positive market breadth.
ONGC was the top performer gaining 1.83 per cent followed by GAIL recording 1.43 per cent on the BSE.
However, TCS extended losses for the second day losing over 1 per cent.
Asian Market
Asian Market
The Asian market recored a four-week high on Friday on account of a surge in the US dollar and its borrowing costs.
China's Shanghai Composite was trading flat, down 3 points and the Hang Seng Index gained over 90 points while Japan's Nikkei lost 65 points.
US Market
The US dollar stayed near three-week lows against a basket of currencies
The 10-year US Treasuries yield hit a one-month low of 2.344 per cent, falling 30 basis points from its two-year high of 2.641 per cent.
FM to target fiscal deficit of 3.5% of GDP in FY18: BofA-ML
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The ensuing budget is likely to fix a fiscal deficit target of 3.5 per cent of GDP in 2017-18, relaxing the 3 per cent target earlier in order to support growth, says a report.
According to global financial services major Bank of America Merrill Lynch, (BofA-ML) the financial year 2017-18 fiscal deficit target is likely to be the same as this fiscal.
"We expect Finance Minister Arun Jaitley to target a fiscal deficit of 3.5 per cent of GDP - same as 2016-17 - in 2017-18 in his February 1 Budget, easing the 3 per cent target," BofA-ML said in a research note.
Fiscal deficit, the gap between expenditure and revenue for the entire fiscal, has been pegged at Rs 5.33 lakh crore, or 3.5 per cent of GDP, in 2016-17.
According to official figures, fiscal deficit touched Rs 4.58 lakh crore, or 85.8 per cent of the budget estimate for the whole financial year, at the end of April-November.
It further noted that given that growth is stagnating at about 4.5 per cent in the old GDP series, a relaxation in the fiscal deficit target is likely.
"We have always believed that the Center should relax the fiscal deficit to combat a global recession that is proving to be longer than the Great Depression," BofA-ML added.
Moreover, the committee to review Fiscal Responsibility and Budget Management Act is expected to build in cyclicity in setting fiscal deficit forecasts by switching to a target range of 3-3.5 per cent of GDP in 2017-18 from a point target 3 per cent, it added.
The report further noted that the Ministry of Finance should net about Rs 1,500 billion from demonetisation.
"After paying for the 7th Pay Commission outgo, PSU bank recapitalisation and a step up in social schemes, the FM will be barely able to fund the budgeted level of public capital expenditure," the report added.
India remained the fastest growing major economy with its GDP accelerating to 7.3 per cent in the July-September quarter, pushed mainly by farm output, although the momentum is expected to be hit in the coming months by the impact of demonetisation.
The ensuing budget is likely to fix a fiscal deficit target of 3.5 per cent of GDP in 2017-18, relaxing the 3 per cent target earlier in order to support growth, says a report.
According to global financial services major Bank of America Merrill Lynch, (BofA-ML) the financial year 2017-18 fiscal deficit target is likely to be the same as this fiscal.
"We expect Finance Minister Arun Jaitley to target a fiscal deficit of 3.5 per cent of GDP - same as 2016-17 - in 2017-18 in his February 1 Budget, easing the 3 per cent target," BofA-ML said in a research note.
Fiscal deficit, the gap between expenditure and revenue for the entire fiscal, has been pegged at Rs 5.33 lakh crore, or 3.5 per cent of GDP, in 2016-17.
According to official figures, fiscal deficit touched Rs 4.58 lakh crore, or 85.8 per cent of the budget estimate for the whole financial year, at the end of April-November.
It further noted that given that growth is stagnating at about 4.5 per cent in the old GDP series, a relaxation in the fiscal deficit target is likely.
"We have always believed that the Center should relax the fiscal deficit to combat a global recession that is proving to be longer than the Great Depression," BofA-ML added.
Moreover, the committee to review Fiscal Responsibility and Budget Management Act is expected to build in cyclicity in setting fiscal deficit forecasts by switching to a target range of 3-3.5 per cent of GDP in 2017-18 from a point target 3 per cent, it added.
The report further noted that the Ministry of Finance should net about Rs 1,500 billion from demonetisation.
"After paying for the 7th Pay Commission outgo, PSU bank recapitalisation and a step up in social schemes, the FM will be barely able to fund the budgeted level of public capital expenditure," the report added.
India remained the fastest growing major economy with its GDP accelerating to 7.3 per cent in the July-September quarter, pushed mainly by farm output, although the momentum is expected to be hit in the coming months by the impact of demonetisation.
Union Budget for country, not state specific: Naidu
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Terming the demand of opposition parties to defer the Budget Session as "anti-people", Union Minister M Venkaiah Naidu on Friday said the Union Budget is for the country and would not be state specific.
"No budget means no development, no welfare. Is this what you want? And no support to poor people, no support to farmers, is that what your wish is? Why are you opposing? Budget is budget," Naidu said.
He was responding to a question regarding opposition parties' demand that the presentation of the Union Budget on February 1, ahead of the Assembly elections in five states, be deferred till March 8, the last day of voting.
Speaking to reporters here, Naidu said the budget would not be state specific.
"The budget will be about the people, their future, what are the taxation proposals, what is the revenue model...It will be presented before the Parliament, that is for the country, it will not be state specific," the Information and Broadcasting minister said.
He said that he was not able to understand the objection raised by the opposition.
"At the end of the day, they are afraid that all their efforts at disinformation against the Modi government have failed and the latest disinformation of the opposition on demonetisation is boomranging on them. They have realised, you have seen survey after survey," he added.
He claimed that even in Uttar Pradesh there is a massive support for demonetisation because of which the opposition parties are rattled.
"Now they have changed their agenda again and are trying to now stop the budget which is an anti-people move again, which will again boomerang on them," he added.
Asked about the feud in Samajwadi Party in Uttar Pradesh, Naidu said BJP would contest the UP election on the issue of development.
He said the issue was not who is the victor within the family but that people gave the party a chance for five years and it did not fulfill their promises.
He said several of the states which were in the group called 'BIMARU' earlier like Jharkhand, Madhya Pradesh, Chhattisgarh developed after BJP governments were formed there.
On a question about TMC, Naidu said there were some allegations which were made in the past and the government was allowing investigative agencies to do their job independently.
Terming the demand of opposition parties to defer the Budget Session as "anti-people", Union Minister M Venkaiah Naidu on Friday said the Union Budget is for the country and would not be state specific.
"No budget means no development, no welfare. Is this what you want? And no support to poor people, no support to farmers, is that what your wish is? Why are you opposing? Budget is budget," Naidu said.
He was responding to a question regarding opposition parties' demand that the presentation of the Union Budget on February 1, ahead of the Assembly elections in five states, be deferred till March 8, the last day of voting.
Speaking to reporters here, Naidu said the budget would not be state specific.
"The budget will be about the people, their future, what are the taxation proposals, what is the revenue model...It will be presented before the Parliament, that is for the country, it will not be state specific," the Information and Broadcasting minister said.
He said that he was not able to understand the objection raised by the opposition.
"At the end of the day, they are afraid that all their efforts at disinformation against the Modi government have failed and the latest disinformation of the opposition on demonetisation is boomranging on them. They have realised, you have seen survey after survey," he added.
He claimed that even in Uttar Pradesh there is a massive support for demonetisation because of which the opposition parties are rattled.
"Now they have changed their agenda again and are trying to now stop the budget which is an anti-people move again, which will again boomerang on them," he added.
Asked about the feud in Samajwadi Party in Uttar Pradesh, Naidu said BJP would contest the UP election on the issue of development.
He said the issue was not who is the victor within the family but that people gave the party a chance for five years and it did not fulfill their promises.
He said several of the states which were in the group called 'BIMARU' earlier like Jharkhand, Madhya Pradesh, Chhattisgarh developed after BJP governments were formed there.
On a question about TMC, Naidu said there were some allegations which were made in the past and the government was allowing investigative agencies to do their job independently.
Coal India's 2017/18 production seen at 660 million tonnes
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State-owned Coal India Ltd, the world's largest coal miner, is expected to raise its production to 660 million tonnes in 2017/18 fiscal year, the coal secretary said on Friday.
The miner is expected to achieve its 2016/17 production target of 575 million tonnes and aims to raise output to 1 billion tonnes by 2020, Susheel Kumar told television news channel CNBC-TV18 in an interview.
With coal accounting for about 70 percent of India's power generation, the country is the world's third-biggest producer and importer of the fuel, and government wants to boost domestic output to cut imports.
Coal India, however, has failed to meet its output targets for years due to several reasons including strikes, accidents and protests.
During April-December, Coal India produced 378 million tonnes, lagging behind its target for this financial year ending in March.
State-owned Coal India Ltd, the world's largest coal miner, is expected to raise its production to 660 million tonnes in 2017/18 fiscal year, the coal secretary said on Friday.
The miner is expected to achieve its 2016/17 production target of 575 million tonnes and aims to raise output to 1 billion tonnes by 2020, Susheel Kumar told television news channel CNBC-TV18 in an interview.
With coal accounting for about 70 percent of India's power generation, the country is the world's third-biggest producer and importer of the fuel, and government wants to boost domestic output to cut imports.
Coal India, however, has failed to meet its output targets for years due to several reasons including strikes, accidents and protests.
During April-December, Coal India produced 378 million tonnes, lagging behind its target for this financial year ending in March.
General Awareness
Countries and its Parliament
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Hello Friends,we have seen in most of the exam one question is asking from parliament. So we have provided you Countries and its Parliament list for upcoming exams like-RBI, RRB, IBPS ,FCI,SSC CGL,IRDAI,UIIC,OICL and many more upcoming exams.
Countries Parliaments Afghanistan Shoora Andorra General Council Albania People’s Assembly Azerbaijan Melli Majlis Algeria National People’s Assembly Angola National People’s Assembly Argentina National Congress Australia Federal Parliament Austria National Assembly Bahamas General Assembly Bahrain Consultative Council Bangladesh Jatiya Sansad Belize National Assembly Bhutan Tshogdu Bolivia National Congress Brazil National Congress Brunei National Assembly Botswana National Assembly Britain Parliment (House of Common’s & House of Lords) Bulgaria Narodno Subranie. Cambodia National Assembly Congo Democratic Rep. of National Legislative Council Colombia Congress Canada Parliament China National People’s Congress Chile Chamber of Deputies and Senate Comoros Legislative Council and Senate Costa Rice Legislative Council and Senate Crotia Sabor Cuba National Assembly of People’s Power Czech Republic Chamber of Deputies and Senate Denmark Folketing Ecuador Natinal Congress El Salvador Legislative Assembly East Timor Constituent Assembly Ethiopia Federal Council and House of Representative Egypt People’s Assembly Fiji Islands Senate & House of Representative France National Assembly Finland Eduskusta (Parliament) Germany Bundestag(Lower House),Bundesrat(UpperHouse) Guyana National Assembly Greece Chamber of Deputies Hungary National Assembly Iceland Althing India Parliament Indonesia People’s Consultative Assembly Iran Majlis Iraq National Assembly Israel Knesset Italy Chamber of Deputies and Senate Japan Diet Jordan National Assembly Korea(North) Supreme People’s Assembly Korea(South) National Assembly Kuwait National Assembly Kenya National Assembly Laos People’s Supreme Assembly Labanon National Assembly Lesotho National Assembly and Senate Lithuania Seimas Luxembourg Chamber of Deputies Liberia National Assembly Libya General People’s Congress Malaysia Dewan Rakyat and Dewan Negara Maldives Majlis Madagascar Mongolia Great People’s Khural Montenegro Federal Assembly Mozambique People’s Assembly Myanmar Pyithu Hluttaw Nepal National Panchayat Netherlands The State General Norway Storting New Zealand Parliament (House of Representative) Oman Monarchy Pakistan National Assembly & Senate Paraguay Senate & Chamber of Deputies Philippines The Congress Papua New Guinea National Parliament Poland Sejm Romania Great National Assembly Russia Duma & Federal Council Serbia Federal Assembly Senegal National Assembly Seychelles People’s Assembly Somalia People’s Assembly South Africa Rep. House of Assembly Spain Cortes Sweden Riksdag Saudi Arabia Majlis Al Shura Sudan National Assembly Switzerland Federal Assembly Syria People’s Council Turkey Grand National Assembly Tunisia National Assembly USA Congress Vietnam National Assembly Venezuela National Congress Zaire National Legislative Council Zambia National Assembly.
Hello Friends,we have seen in most of the exam one question is asking from parliament. So we have provided you Countries and its Parliament list for upcoming exams like-RBI, RRB, IBPS ,FCI,SSC CGL,IRDAI,UIIC,OICL and many more upcoming exams.
| Countries | Parliaments |
| Afghanistan | Shoora |
| Andorra | General Council |
| Albania | People’s Assembly |
| Azerbaijan | Melli Majlis |
| Algeria | National People’s Assembly |
| Angola | National People’s Assembly |
| Argentina | National Congress |
| Australia | Federal Parliament |
| Austria | National Assembly |
| Bahamas | General Assembly |
| Bahrain | Consultative Council |
| Bangladesh | Jatiya Sansad |
| Belize | National Assembly |
| Bhutan | Tshogdu |
| Bolivia | National Congress |
| Brazil | National Congress |
| Brunei | National Assembly |
| Botswana | National Assembly |
| Britain | Parliment (House of Common’s & House of Lords) |
| Bulgaria | Narodno Subranie. |
| Cambodia | National Assembly |
| Congo Democratic | Rep. of National Legislative Council |
| Colombia | Congress |
| Canada | Parliament |
| China | National People’s Congress |
| Chile | Chamber of Deputies and Senate |
| Comoros | Legislative Council and Senate |
| Costa Rice | Legislative Council and Senate |
| Crotia | Sabor |
| Cuba | National Assembly of People’s Power |
| Czech Republic | Chamber of Deputies and Senate |
| Denmark | Folketing |
| Ecuador | Natinal Congress |
| El Salvador | Legislative Assembly |
| East Timor | Constituent Assembly |
| Ethiopia | Federal Council and House of Representative |
| Egypt | People’s Assembly |
| Fiji Islands | Senate & House of Representative |
| France | National Assembly |
| Finland | Eduskusta (Parliament) |
| Germany | Bundestag(Lower House),Bundesrat(UpperHouse) |
| Guyana | National Assembly |
| Greece | Chamber of Deputies |
| Hungary | National Assembly |
| Iceland | Althing |
| India | Parliament |
| Indonesia | People’s Consultative Assembly |
| Iran | Majlis |
| Iraq | National Assembly |
| Israel | Knesset |
| Italy | Chamber of Deputies and Senate |
| Japan | Diet |
| Jordan | National Assembly |
| Korea(North) | Supreme People’s Assembly |
| Korea(South) | National Assembly |
| Kuwait | National Assembly |
| Kenya | National Assembly |
| Laos | People’s Supreme Assembly |
| Labanon | National Assembly |
| Lesotho | National Assembly and Senate |
| Lithuania | Seimas |
| Luxembourg | Chamber of Deputies |
| Liberia | National Assembly |
| Libya | General People’s Congress |
| Malaysia | Dewan Rakyat and Dewan Negara |
| Maldives | Majlis Madagascar |
| Mongolia | Great People’s Khural |
| Montenegro | Federal Assembly |
| Mozambique | People’s Assembly |
| Myanmar | Pyithu Hluttaw |
| Nepal | National Panchayat |
| Netherlands | The State General |
| Norway | Storting |
| New Zealand | Parliament (House of Representative) |
| Oman | Monarchy |
| Pakistan | National Assembly & Senate |
| Paraguay | Senate & Chamber of Deputies |
| Philippines | The Congress |
| Papua New Guinea | National Parliament |
| Poland | Sejm |
| Romania | Great National Assembly |
| Russia | Duma & Federal Council |
| Serbia | Federal Assembly |
| Senegal | National Assembly |
| Seychelles | People’s Assembly |
| Somalia | People’s Assembly |
| South Africa | Rep. House of Assembly |
| Spain | Cortes |
| Sweden | Riksdag |
| Saudi Arabia | Majlis Al Shura |
| Sudan | National Assembly |
| Switzerland | Federal Assembly |
| Syria | People’s Council |
| Turkey | Grand National Assembly |
| Tunisia | National Assembly |
| USA | Congress |
| Vietnam | National Assembly |
| Venezuela | National Congress |
| Zaire | National Legislative Council |
| Zambia | National Assembly. |
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